Condensed consolidated statement of cash flows

for the year ended 30 September 2021
Rm Notes 2021
Reviewed
2020
Reviewed
Restated1
Cash flows from operating activities
Cash generated from operations before working capital changes A 1 158 1 136
(Increase)/decrease in net working capital (200) 21
Cash generated from operations 958 1 157
Cash interest received 26 38
Dividends received 2 3
Cash interest paid (66) (75)
Tax paid (272) (145)
Net cash inflow from operating activities before dividends 648 978
Dividends paid (including to non-controlling interests in subsidiaries) (428) (727)
Net cash inflow from operating activities 220 251
Cash flows from investing activities
Cash received from loan receivables 966 798
Cash invested in loan receivables (893) (970)
Repayment of other investments and loans 3
Other investments and loans granted (8) (1)
Dividends received from joint venture and associate 6 3
Replacement of property, plant and equipment and intangible assets (42) (32)
Proceeds from disposal of property, plant and equipment 37 8
Expansion of property, plant and equipment and intangible assets (196) (138)
Acquisition of businesses (8)
Proceeds from/(outflow on) disposal of investment, subsidiary and associate 37 (4)
Net cash outflow from investing activities (101) (333)
Cash flows from financing activities
Funds provided by equity holders of Reunert 1
Shares acquired for equity settled Conditional Share Plan (CSP) (11) (54)
Proceeds from subscription for shares by non-controlling interests 68
Investment in treasury shares (105)
Purchase of additional shares acquired from non-controlling interests (31) (1)
Put option liability settled (131)
Long-term loans raised 47 2
Long-term loans settled (9)
Contingent consideration settled (7) (15)
Equity forward contract liability settled (15)
Lease liabilities settled (73) (57)
Net cash outflow from financing activities (136) (255)
Net decrease in net cash and cash equivalents (17) (337)
Net cash and cash equivalents as at 1 October as reported in the Statement of Financial Position 323 616
Net cash and cash equivalents as at 30 September before translation adjustments 306 279
Foreign exchange translation adjustments on:
Cash and cash equivalents (6) (1)
Bank overdrafts and short-term facilities (9) 45
Net cash and cash equivalents as at 30 September as reported in the Statement of Financial Position 291 323
Made up of:
Cash and cash equivalents 1 068 1 029
Bank overdrafts and short-term facilities (777) (706)
Bank overdrafts (137) (122)
Short-term facilities (640) (584)
1 The consolidated statement of cash flows has been restated to provide clearer presentation of the following:
Cash interest received and dividends received are now disclosed separately
Cash flows from loan receivables have been disaggregated into cash receipts and cash payments on a gross basis
Subtotals for investments to maintain/increase operating capacity have been removed
The foreign exchange translation adjustments have been included below net cash and cash equivalents in order to reconcile the net cash and cash equivalents to the statement of financial position
The restatement did not result in a change in the 2020 reported numbers on the face of the consolidated statement of cash flows.

 

Notes to the condensed consolidated statement of cash flows

for the year ended 30 September 2021
Rm 2021
Reviewed
2020
Reviewed
Restated1
A.
Reconciliation of profit before tax to cash generated from operations before working capital changes
Profit before tax 1 008 166
Adjusted for:
Cash interest received (26) (38)
Dividend received (2) (3)
Cash interest paid 66 75
Unwinding of present value discount 4 8
Depreciation of property, plant and equipment and right-of-use assets 192 184
Amortisation of intangible assets 61 56
Profit on disposal of property, plant and equipment and intangible assets (12) (4)
Profit on disposal of associate (1)
Fair value remeasurements
Gain on investment at fair value through profit or loss (103)
Gain on contingent consideration (13) (2)
Gain on option contract (41)
Loss on option contract 92
Loss on put option liability 3
Loss on disposal of subsidiary 1 20
Impairment of non-financial assets 1 79
Transaction-related share based payments 7
Share-based payment expense in respect of the Group's CSP 16 10
Share-based payment expense in respect of the Group's Deferred Bonus Plan 1 (3)
Cash paid to settle the Group’s Deferred Bonus Plan (6) (22)
Net unrealised forex losses 16 48
Lease modification (49) (17)
Impairment of financial assets
Credit write-off 20 298
Expected credit losses (19) 288
Provisions movements (57) (5)
Other non-cash movements 2 (5)
Cash generated from operations before working
capital changes
1 158 1 136
1 The reconciliation of profit before tax to cash generated from operations before working capital changes has been restated as a result of the restatement to operating profit (refer to note 3 and note 14). This restatement provides a more detailed disclosure and did not result in a change to the 2020 reported numbers.